We see the currency pair' movement within the ascending yellow channel. A while ago, the price made a start from the upper bound of this channel, after which the market began to move down. Probably, the next coming trading days, the currency pair will continue to move in a bearish trend to the support level of 1.264, which is at the lower bound of the yellow channel.
However, there is an alternative scenario, according to which, we will see the market growth in an upward wave towards the resistance level of 1.325, which is on the upper yellow bound. This option is shown on the chart with a thin white line.